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I am 18 years old and have a checking savings account and own a credit card. I worked for my dads friend and he just wrote me a check for a job. It happened couple of times and ammount wasnt big either. He never mentioned anything about taxes. There is no real proof that I worked for him
What should I do?

2007-04-12 14:07:44 · 7 answers · asked by D M 1 in Business & Finance Taxes United States

So if i didnt give social security nobody knows how much I earned right? Even if it was like $10000?

2007-04-12 14:25:11 · update #1

7 answers

Just because no one knows about it doesn't make it legal.

If it were $10,000 and he paid you with a check, the bank that cashed it for you is required by law to report it to the IRS which could then investigate where it came from.

If you didn't report it as income, you would be guilty of tax fraud.

If you don't report the income, you are guilty of tax fraud anyway.

2007-04-12 17:24:23 · answer #1 · answered by Mark S 5 · 0 0

Look up the 'should I file' and the 'self-employment' parts of the IRS website. I believe if you are self-employed and earn under $400 in a year it's classed as a hobby, not a job, and therefore you don't need to file for it, but it's been a few years since I looked at those rules.

If you've made over $400 you definitely need to file as self-employed, if you've made less than that you might not.

2007-04-12 14:19:10 · answer #2 · answered by hp77bfly 7 · 0 1

No you dont have to file taxes because you werent using your social security so since the government doesn't know you were working then they wouldn't know how much to give you back

2007-04-12 14:18:41 · answer #3 · answered by darkfairy 1 · 0 1

If you are taking money "under the table" and not declaring it on a tax return, you're committing the crime of tax fraud, and can be penalized severely if or when you get caught. The person paying you "under the table" is also doing something illegal.

2007-04-12 14:27:33 · answer #4 · answered by Judy 7 · 0 1

The only way the irs will ever know is if that person tells them or sends you a 1099... Dont worry about it, sounds like you will be fine

2007-04-12 14:45:13 · answer #5 · answered by winetaster6 2 · 0 1

Next time, get cash.

2007-04-12 14:15:09 · answer #6 · answered by Anonymous · 0 0

let it go. ur safe

2007-04-12 14:16:42 · answer #7 · answered by Shanny 1 · 0 1

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